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Public infrastructure, non-cooperative investments and endogenous growth

Abstract : Two countries strategically invest in productive infrastructure within a general equilibrium model with endogenous growth. These public investments generate externalities. Dynamic analysis reveals that: (1) under constant returns, the two countries’ growth rates differ during the transition but are identical on the balanced growth path, (2) a country with decreasing returns can experience sustained growth provided that the other country grows at a positive constant rate, (3) cooperation does not necessarily lead to higher growth for each country, and it can increase or decrease the gap between countries’ growth rates depending on the countries’ consumption preferences regarding domestic and foreign goods.
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Submitted on : Friday, May 29, 2020 - 2:32:27 AM
Last modification on : Wednesday, March 23, 2022 - 12:08:09 PM

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Charles Figuieres, Fabien Prieur, Mabel Tidball. Public infrastructure, non-cooperative investments and endogenous growth. Canadian Journal of Economics / Revue Canadienne d'Économique, Wiley, 2013, 46 (2), pp.587-610. ⟨10.1111/caje.12024⟩. ⟨hal-02645736⟩

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